Dow Jones : 29,872.47
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Wall Street catches breath after Dow hits 30K; Nasdaq hits record
GOLD PRICE : 1,8076.00
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WTI CRUDE OIL : 45.86
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BRENT OIL : 48.83
⬆️ 0.92 / 1.92%‼️‼️
USD/MYR : 4.09
•* Malaysian Pacific Industries Bhd (MPI)’s* net profit for the first quarter ended Sept 30, 2020 (1QFY21) was 50.32% higher at RM55.31 million from RM36.79 million a year ago, with revenue increasing 19.37% to RM440.59 minion from RM369.1 million. It has declared a dividend of 10 sen per share, payable on Dec 24. On a quarter on quarter basis, net profit rose 12.77% from RM49.05 million in 4QFY20, while revenue increased 8.67% from RM405.45 million.
•* Parkson Holdings Bhd’s* net losses reduced to RM21.73 million in 1QFY21, from RM44.62 million in 1QFY20, while revenue fell 8% to RM812.1 million from RM887.45 million. The lower losses were due to better operating profits from the group’s Malaysia and China operations. Meanwhile, the reduced revenue was on account of Covid-19 hitting footfall and purchases at its stores in Malaysia, Indonesia and Vietnam.
•* IJM Corp Bhd* saw its second quarter ended Sept 30, 2020 (2QFY21) net profit balloon to RM99.52 million, from RM1.27 million in 1QFY21 on business recovery from the Movement Control Order (MCO). Quarterly revenue increased 62.4% to RM1.43 billion, from RM897.8 million a year prior. It declared a first interim dividend of two sen per share, to be paid on Dec 30. 2QFY21 net profit was higher by 42% from RM70.1 million in 2QFY20, while revenue fell 9.2% from RM1.57 billion last year.
•Meanwhile, its plantation unit IJM Plantations Bhd saw its 2QFY21 net loss narrow to RM1.04 million from RM2.32 million, while quarterly revenue grew by 22.28% to RM211.37 million from RM172.86 million. The better top and bottom line were due to higher commodity prices and revenue, specifically from its Malaysian operations.
•* Glomac Bhd* registered a 62.95% growth in its net profit for the second quarter ended Oct 31, 2020 (2QFY21) to RM9.11 million, from RM5.59 million a year prior on the resumption of construction actives post-lockdown. Tax expenses more than doubled to RM4.57 million from RM6.23 million, mitigating earnings. Revenue for the quarter rose 70.07% year-on-year to RM104.61 million from RM61.51 million.
•* Genting Plantations Bhd (GenP)* saw its net profit in the third quarter ended Sept 30, 2020 (3QFY20) surge to RM61.39 million, from RM17.96 million, while revenue grew 35.8% to RM645.56 million from RM475.37 million year prior. The top and bottom-line earnings growth were driven by higher palm oil prices. Nine-month net profit more than doubled to RM175.31 million, from RM80.39 million a year earlier, while revenue rose 8.39% to RM1.76 billion from RM1.62 billion in 9MFY19.
•* KNM Group Bhd’s* net profit in 3QFY20 rose 60.21% to RM17.98 million, from RM11.22 million in 2QFY20 on higher unrealised exchange gain, gain on disposal of a non-profitable business unit in China, and cost savings from operations. Revenue fell 3.52% to RM321.32 million, from RM33.03 million. 3QFY20 net profit surged 70.27% from RM10.56 million in 3QFY19, while revenue fell 28.26% from RM447.88 million a year prior.
•* MMC Corp Bhd* saw its net profit fall 8.16% to RM60.03 million in 3QFY20, from RM66.34 million a year prior. Quarterly revenue fell 10.22% to RM1.12 billion, from RM1.25 billion on lower progress of the MRT2 (Putrajaya Line) project and lower passenger and cargo volumes at Senai Airport due to the MCO. The group declared an interim dividend of 1.5 sen, payable on Dec 23.
•* Sime Darby Property Bhd* saw its second straight quarterly loss in 3QFY20, posting a net loss of RM355.26 million, from RM81.77 million in 2QFY20. Its quarterly revenue more than doubled to RM592.63 million, from RM288.23 million in the immediate preceding quarter. The wider losses were due to an RM377.1 million impairment charge for its 40% share in the Battersea Power Station project in London, the UK. It posted a net profit of RM25.24 million on revenue of RM850.03 million for the corresponding period of the previous year.
•* TDM Bhd* posted a profit after tax of RM22.37 million in 3QFY20, from a loss after tax of RM3.81 million a year prior on higher plantation income. Revenue rose to RM121.42 million, from RM105.93 million a year earlier. The group posted a profit after tax of RM815,000 in 9MFY20, from a loss after tax of RM5.04 million a year prior.
•* Telekom Malaysia Bhd (TM)* saw its net profit for 3QFY20 rise 26% to RM329.4 million, from RM261.3 million a year prior amid the Covid-19 shift to working from home. Revenue for the quarter fell 5.7% to RM2.69 billion from RM2.85 billion for the previous year’s corresponding quarter. 9MFY20 net profit was 11% higher at RM756.67 million, from RM683.77 million previously, while cumulative revenue was down 6.7% at RM7.84 billion versus RM8.4 billion a year ago.
•* UOA Development Bhd’s* 3QFY20 net profit more than doubled to RM208.93 million from RM101.91 million a year ago, on a fair value adjustment to investment properties of RM114 million with the revaluation of UOA Corporate Tower. Revenue fell 53.43% to RM134.34 million, from RM288.44 million for 3QFY19. In 9MFY20, net profit rose 24.22% to RM356.33 million, from RM286.86 million a year earlier, while its revenue fell 25.86% to RM650.49 million from RM877.44 million.
•* UEM Edgenta Bhd’s* net loss narrowed in 3QFY20 to RM19.01 million, from RM26.91 million in the immediate preceding quarter. It noted 2QFY20 losses included a one-off impairment of RM50 million on unsold property inventories. Revenue came in slightly higher at RM482.91 million, compared with RM448.47 million in 2QFY20. In contrast, it posted a net profit of RM17.28 million in 3QFY19, while revenue was down 17.8% from RM587.64 million last year.
大众投银研究
投资建议：跑赢大市
目标价：91仙
闭市价：78.5仙（截至11月25日）
每股盈利：5.7仙（2020财年估计）
本益比：13.5倍（2020财年估计）
股息收益率：4.4%
大众投银研究继续看好大资全球（HEXTAR，5151，主要板工业）前景，虽该公司已成为国内农用化学品市场的领导者，但仍然有充足成长空间，因为为了确保食品安全，农药的需求依然很高。农业业务将继续推动增长。
该公司管理层仍对于并购保持开放态度，以促进未来增长。该公司今年刚完成收购计划，涉足生物气体绿色业务与5G技术开发，但到目前为止还没有取得重大进展。
大资全球近期公布的第3季表现健康，累计9个月净利按年升77.1%至3300万令吉，尽管仅占全年预测的71.2%，但由于种植业状况更为健康，料未来几个季度将强劲增长。另外，该公司宣布第3次中期单层股息为1仙，使今年至今累计派息达3.2仙。
